20mb block increase = 20 times more transactions possible? - page 2.

Buffer Overflow

legendary

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Quote from: Amph on May 26, 2015, 10:36:55 AM

the limit is around 7 so it will be 140

7 tps on paper. In reality, transactions are bigger than expected as they have multiple inputs and outputs, also multisig ones are bigger. I think 2 to 4 tps is more closer for a maxed out 1MB block in practice.

jaberwock

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Quote from: Benjig on May 26, 2015, 10:48:08 AM

VISA handles on average around 2,000 transactions per second (tps), so call it a daily peak rate of 4,000 tps. It has a peak capacity of around 47,000 transactions per second, however they never actually use more than about a third of this even during peak shopping periods.

PayPal, in contrast, handles around 10 million transactions per day for an average of 115 tps.

Let's take 4,000 tps as starting goal. Obviously if we want Bitcoin to scale to all economic transactions worldwide, including cash, it'd be a lot higher than that, perhaps more in the region of a few hundred thousand tps.

but how many wire transfer are made everyday?

For smaller transactions I think altcoins and off chain transactions might be an alternative

LiteCoinGuy

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dothebeats

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Cashback 15%

Adjusting the number of transactions that could be handled by the network could probably be an interesting topic when bitcoin see widespread adoption and is widely-used by many people all around the world. 3-4 tx per second could be raised. Maybe a lower goal of a hundred tx per second? There isn't much need for a couple hundred tx per second because the network sees only a hundred thousand tx per day.

Benjig

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VISA handles on average around 2,000 transactions per second (tps), so call it a daily peak rate of 4,000 tps. It has a peak capacity of around 47,000 transactions per second, however they never actually use more than about a third of this even during peak shopping periods.

PayPal, in contrast, handles around 10 million transactions per day for an average of 115 tps.

Let's take 4,000 tps as starting goal. Obviously if we want Bitcoin to scale to all economic transactions worldwide, including cash, it'd be a lot higher than that, perhaps more in the region of a few hundred thousand tps.

BlackJacky

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currently we have 100.000 transactions per day so round about 1 per second...

Amph

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as far as i know the 1mb isn't fully saturated, so expect more than x20 the current number of transaction/s

the limit is around 7 so it will be 140

but another question could be raised now, does 140 per second are enough if we reach fully adoption? or we need to raise it again in the future?

BlackJacky

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Hi all,

is it right, if we increase the block size to 20MB, there will be 20 times more transactions possible? Currently we can process round about 3-4 transaction per second. That means we would be prepared for 60-80 transactions per second?

Thanks for an answer!

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